We need regulation pretty bad

[Gi01]

Apart from scam artists in crypto space we have too many unprofessional developers that falsely act like they are really good in a particular field and try to build blockchain based projects but failed in the end,if there is really any way to make blockchain available to only professionals that are qualified it would have been a different story for crypto,even scammers wont have a chance,this is why i think we need REGULATIONS pretty bad.

I'm pretty sure that you don't really understand the basic purpose of regulations of cryptocurrency. If you did, you wouldn't have made this post. This has nothing to do with regulation of cryptocurrency. Scammers can be found in every part of the world ecosystem and it is no surprise that there are scammers in the crypto space. You as an investor or crypto enthusiast should learn to research about any crypto project before investing in it.  Even if the crypto space is regulated, there are still gonna be scammers to scam people who fail to understand certain specifics of a particular project.

[1715457496]

1715457496

[1715457496]

1715457496

[1715457496]

1715457496

[1715457496]

1715457496

[1715457496]

1715457496

[sandra_x]

Cryptocurrencies is a new technology and the masses are grossly uneducated about its basics, that will change soon as adoption grows and the issue of scammers having it all easy will be drastically reduced. Regulation is not going to do much good. We are running from a corrupt centralized system to the safe haven in crypto, why spoil everything because of a problem that will naturally be wielded out. Weak projects by poor developers will die by natural selection

[Daffadile]

Apart from scam artists in crypto space we have too many unprofessional developers that falsely act like they are really good in a particular field and try to build blockchain based projects but failed in the end,if there is really any way to make blockchain available to only professionals that are qualified it would have been a different story for crypto,even scammers wont have a chance,this is why i think we need REGULATIONS pretty bad.

Nonsense. Why do we need regulation? It will not somehow magically change things or stop scammers. Scammers scam it is what they do. It is peoples fault for feeding the scammers and that is why they come back.
You need to further explain this.

[maxreish]

But, do you agree that even professionals were being scammed? Even the educated and good developers are being trapped by scammers. The bottom line here is, regulated or unregulated system. Scammers will not gonna disappear. If money is involved, there they are hunting it. That's what cryptocurrency special, because of it's decentralized and unregulated system.

[Ucy]

We don't really need only "professionals". Afterall, Bitcoin wasn't invented by only the professionals. Am not sure if satoshi even qualifies as a Bitcoin or Blockchain professional. Most good developers in this space are not professionals in Blockchain coding.
Blockchain development need lots of creativity..  Creative minds are not always professionals.

[pandanaran]

regulations won't make scamers stop cheating people, in my opinion the most important is the way you were before joining the project and also your accuracy in observing them, the advice I consider before making a decision. If you say the developer, of course, must examine it, including researching what experience has been done by the previous developer in managing the project.

[killat]

The real deal is that investing in crypto is being experienced as sort of a gamble, so when crisis is looming, people withdraw their crypto investments and prepare their fiat cushions for possible fallout.

As centralized as it is, crypto depends heavily at this stage, especially since mining became out of the reach of normal people, on centralized exchanges that rely on stable fiat currency systems. Take that out of the equation and you are left with decentralized bytes that no one can turn into still needed real world money.

I am not saying here that when shit hits the fan locally (Venezuela), you cannot leverage crypto to stay out of the high water, just that global meltdown could make crypto business as hard to utilize as printed money.

[JeromeL]

Apart from scam artists in crypto space we have too many unprofessional developers that falsely act like they are really good in a particular field and try to build blockchain based projects but failed in the end,if there is really any way to make blockchain available to only professionals that are qualified it would have been a different story for crypto,even scammers wont have a chance,this is why i think we need REGULATIONS pretty bad.

If regulation helps us to avoid scammers as well as unprofessional developers who often overestimate their strength, then I agree to regulation and even am ready to go through a small KYC with participation in each project. Provided that the developers of the project also provide their KYC.

[andreibi]

Regulation is for the protection of the investor, lol. No amount of regulatory oversight will stop scammers. In fact, the more heavily regulated a finance sector is, the more high profile the scammer becomes. In the forex market, banks colluded to manipulate the price. What did they get? Only fines.

Regulation only stifles the startup. It protects the status quo.

[jthor]

I’ll generally tell you so that we don’t need any regulation at all.  Cryptocurrency is decentralized.  Why does she need any regulators?  It seems to me that this is all the influence of the government.

[Ranly123]

Regulations will not solve anything including scams. What we need is some serious security protocol that would detected dubious projects. It may not be available for now but someday and hopefully somehow, it would come to realization.

[key4co.in]

Your points are clear and concise, but regulations still has its bad side and not only the positive side. Regulations will obviously reduce scam and fakers without the capability to run a particular project, that's true. But also, regulations will drift further from decentralisation. Crypto enthusiasts always want regulations to come since scammers and impostors have taken advantage of crypto space with excellent whitepaper and hype. Unprofessional and scam team members just need to pay top influencers to create hype for their project, that's the sad reality. Sparkster for instance is an example of projects with hype but team without vision. Regulations might curb this a great deal but not entirely.

[bellaayu]

Apart from scam artists in crypto space we have too many unprofessional developers that falsely act like they are really good in a particular field and try to build blockchain based projects but failed in the end,if there is really any way to make blockchain available to only professionals that are qualified it would have been a different story for crypto,even scammers wont have a chance,this is why i think we need REGULATIONS pretty bad.

Do you mean that all these projects should be managed by people who know in the field of crypto and professional people? Yes ' ' I agree with that and they have to pass KYC. So everyone knows that this person is very professional and has a good track record of the project developer. But making regulations is very difficult because the system in this crypto is accessible all over the world, so if setting it up is very difficult.

[Mrsparks]

I most say some things mentioned in this post are true but i guess this is the price we have to pay for decentralization.. The space jist needs to mature more and device mechanism to curb the presence of rookie developers and scammers.
.

[Viscore]

Regulations will not solve anything including scams. What we need is some serious security protocol that would detected dubious projects. It may not be available for now but someday and hopefully somehow, it would come to realization.

Regulations might just bring the scenario into its worst so it would not still a solution to the problem. Instead, let's all try to be educated so that those who make fraud will not be tolerated anymore. Scamming won't be prolong if we are just responsible enough of our own decisions and actions. There's no need for regulations anymore because we ourselves are the ones who can really solve this problem.

[sana54210]

But, do you agree that even professionals were being scammed? Even the educated and good developers are being trapped by scammers. The bottom line here is, regulated or unregulated system. Scammers will not gonna disappear. If money is involved, there they are hunting it. That's what cryptocurrency special, because of it's decentralized and unregulated system.

You have said my mind to some extent and I totally agreed with you on some of them, but there is one thing that I still personally believe, if there is regulation, the rate of scamming in the industry will reduce. We know completely well that it can never disappear completely, since fiat system existed also, scamming as been rampant and it is becoming more rampant with the age of technology that keep growing on a daily basis, and one of the technology is what we have seen.

I don’t believe that there is nothing that cannot be put under control, which is why GOD has given us that high wisdom, human beings are too intelligent that we have not use the intelligence up to 1 percent of what God really gave us.  if government are really serious, my brother, we are so much brains in this world that will bring solution to it within a minute.

[ATSgrowth]

no we don't need regulations at all and the worst part is that regulation is not going to solve anything in the way you think they are!

the same scams are going to continue to happen if not more if this market was heavily regulated and people were restricted about what they could create. that would just push people into off-the-market and in shady places for trading.

the solution to the problem you are concerned with is so easy! people simply have to stop giving away their money to any random person who asks for it in return for garbage.

Without regulations crypto will not move from geeks to real people. Real people are used to be "protected" by the law. 

[Taufik blackspade team]

no we don't need regulations at all and the worst part is that regulation is not going to solve anything in the way you think they are!

the same scams are going to continue to happen if not more if this market was heavily regulated and people were restricted about what they could create. that would just push people into off-the-market and in shady places for trading.

the solution to the problem you are concerned with is so easy! people simply have to stop giving away their money to any random person who asks for it in return for garbage.

Without regulations crypto will not move from geeks to real people. Real people are used to be "protected" by the law. 

when crypto is later used by everyone in the world for trade transactions or other things, of course regulations must be truly established to protect users and owners of crypto assets. it will indeed look very boring and difficult, but I think we cannot avoid regulation if you want to see crypto really get the value of use equivalent to fiat money.

[South Park]

What we need is for people to stop being dumb and not to put their hard earn money to those scam ICO's. Regulations will be just futile because we al know that the system is decentralised. If people would just educated themselves, I'm sure less projects will run of investors money because they know they can't fool people anymore. Knowledge and education is the key here and not a full blanket regulation, in my opinion.

I agree with this, the decentralized nature of the market will never allow for regulations to be successful, regulations can work in a highly centralized market dominated by a few companies, but in the market of cryptocurrencies where the only requirement needed to launch your own coin is to have a computer with internet connection such regulations will never be enough to stop scammers, as such the only solution is to educate ourselves about the dangers of investing in new coins and try to make newbies understand this fact before they lose all their money by investing in icos.

[usekevin]

Regulation is better option. If the regulations occur,you can get huge profit from crypto from trading.But some are using the cryptocurrency transcation to scam people.Some are asking to send payment of bitcoin to their wallet and scam them after payment,without providing service to them.Some fake professional also get money by saying,they are the real service provider.